Regulatory Alerts2019-11-04
Belize Economic Substance Requirements
The Belizean regulatory framework establishes economic substance requirements for legal entities engaged in relevant activities. The assessment determines applicability based on commercial status, regulatory oversight, and tax residency, specifically excluding entities controlled outside Belize. Compliance mandates adequate employees, expenditure, and premises within Belize, with non-compliance resulting in sanctions.
Is the legal entity a commercial entity? Belize Economic Substance Requirements Substance No requirements not applicable Yes Is the entity regulated? No Yes Is the entity engaged in a relevant activity? Yes Does the entity provide proof that it is controlled and managed outside of Belize and is tax resident in a jurisdiction other than Belize? No Is the entity a PEHC? No
- Does the entity conduct its CIGA in Belize?
- Is the relevant activity directed and managed in Belize?
- Are there adequate employees, expenditure and appropriate premises in Belize? No Yes Yes Substance requirements not applicable Substance requirements not applicable Is the entity compliant with applicable laws and filing requirements? Yes Are there adequate No employees and premises? Yes Yes Entity meets substance requirements Entity meets substance requirements No No Entity subject to sanctions